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19 February, 2018 21:43 IST
Yes Bank Q3 profit rises 22% to Rs 10.76 bn
Source: IRIS | 18 Jan, 2018, 03.24PM
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Yes Bank, one of the leading private sector bank, announced a substantial rise in standalone net profit for the quarter ended December 31, 2017. During the quarter, the profit of the bank rose 22% to Rs 10.76 billion from Rs 8.82 billion in the same quarter previous year.

Net Interest Income of Rs 18.88 billion for Q3FY18; y-o-y growth of 26.8%. Non-Interest Income of Rs 14.22 billion for Q3FY18; y-o-y growth of 39.9%.

Total Net Income of Rs 33.11 billion in Q3FY18 y-o-y growth of 32.1%. Operating Profit of Rs 20.01 billion for Q3FY18; y-o-y growth of 37.7%. NIMs healthy at 3.5% for Q3FY18. Cost to Income Ratio at 39.5%.

Rana Kapoor, Managing Director & CEO, YES BANK (Q,N,C,F)* said, ''YES Bank has delivered another quarter of satisfactory performance with sustained earnings delivery and accelerated growth momentum with the Bank achieving a Balance Sheet size beyond Rs 2.5 Lakh Crores and Advances Book in excess of Rs 1.7 Lakh Crores. Granularity in the Balance-sheet continues to improve with Retail Banking Advances more than doubling in a year to 11.8% of outstanding book and CASA Ratio of 38.0%. YES Bank's Asset Quality continues to demonstrate resilience with Stable Asset quality parameters that includes meaningful repayments from accounts previously observed under RBI RBS review for FY17.

On the Digital front, Bank continues to reap benefits from its A.R.T. strategy proven through its leadership position in Merchant Payments for UPI with market share in excess of 75%. Further, the Bank is working on multiple fronts in the Fintech domain towards creating Operational and Cost Efficiencies through AI & Robotics; Big Data Analytics for Customer Acquisition & Cross-selling and Open Innovation to create Enterprise Solutions for our Corporate Customers by leveraging YES BANK's state-of-the-art API Banking platform.''

Shares of the bank declined Rs 4.5, or 1.31%, to trade at Rs 338.00. The total volume of shares traded was 2,113,167 at the BSE (3.10 p.m., Thursday).

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